Biocon is planning to list Syngene, its research services arm, on the bourses next financial year, said Ms Kiran Mazumdar-Shaw, Chairman and Managing Director of the company.
“Before listing the company, we are aiming to achieve 20 per cent growth quarter-on-quarter consistently for six quarters. Syngene has delivered 19 per cent at Rs 93 crore for the second-quarter (Q2) ended September 30, 2011,” she added.
The company by focusing on new areas of discovery services related to chemistry, biology and biologics, has on-going collaboration with 60 pharma and biotech companies globally.
Commenting on the company's performance, Mr Peter Bains, Director, Syngene International, said, “This has been another encouraging quarter and carries forward the momentum of the first quarter to give a very solid half-year position.”
“Our strong sales are driving improved operational performance and we are continuing in our strategy to invest in both our capacity and our range and depth of capabilities to enable Syngene to offer stronger, broader and higher value services to serve our clients' needs to support their discovery and development goals,” he explained.
New R&D head
Biocon management has appointed Dr Abhijit Barve, currently chief operating officer (COO), Clinigene, as President, R&D of Biocon.
Commenting on the announcement, Ms Kiran Mazumdar-Shaw said, “Given the advancement of Biocon's research pipeline increasingly into the clinic, Dr Barve's extensive experience in clinical research will be a critical asset to Biocon's research and development.”